If you are like me, the older you get the more you think of death. Not just death. But also what death means in life. Michael Jackson’s death makes me wonder, “What were his last thoughts?” Of course we could never know, but we could put ourselves in that place…our final moments, right before we clock out to meet the “head dude in charge”.

For me, my brain goes through a “life check list”.

a) Did I do what I set out to do?

B ) Are all my ducks lined up to leave my legacy intact?

As I read, and watch the recent reports of Michael Jackson, these are the top of mind questions that most are having…whose going to take care of the kids? What’s going to happen to Never Land? What about his Estate?

Who would think that “The King Of PoP” didn’t have his ducks in order? I hope it all works out for the benefit of his kids but also for the benefit of his legacy. I mean wouldn’t it be a shame to find out all he has accomplished would be rationed out to the highest bidder or opportunist (bless their soul)?

I am all for capitalizing on opportunities but some things should be protected. For example, I have a very good friend of mine from Gary, Indiana (Michael Jackson’s birth place), who informed me the house where Jackson was born and raised was sold to a “Group” in California. They plan to open it up to the public for a fee. (See Actual photo of Michael Jackson Birth Place in Gary, IN)

Michael Jackson's Birth Place

Perhaps the Jackson Family didn’t want the property. Perhaps they didn’t see the value of their humble home that links to their humble beginnings. But, make no mistake. This California “Group” will make a fortune in years to come.

This brings me to a lesson that we all struggle with that is a necessity for all whom aspire to be wealthy. Risk Management.

If you are a frequent reader of this blog, you are familiar with the 10 Wealth Building Disciplines, which is the core of the blog’s purpose. Risk Management is one of the disciplines wealthy individuals use and master.

In the near future, I will be examining some of the risk management strategies we need to be looking into as aspiring wealthy individuals, but first a quiz.

Do you know the basic risk transfer or insurances we need to be using right now?

Go ahead and share your answers in the comment box. Be on the lookout for the blog post I mentioned in next few days…

            

Add Your Comment